ODD MOLLY Q3 2019€¦ · THIS IS ODD MOLLY Odd Molly is a fashion brand with a unique style...
Transcript of ODD MOLLY Q3 2019€¦ · THIS IS ODD MOLLY Odd Molly is a fashion brand with a unique style...
ODD MOLLYQ3 2019
Jennie Högstedt Björk, CEO
Johanna Palm, CFO & Deputy CEO
AGENDA
I. This is Odd Molly
II. Q3 2019
III. Going forward
THIS IS ODD MOLLYOdd Molly is a fashion brand with a unique style concept
• Founded in 2002
• Sold in about 40 countries
• Sold through own sales channels and external retailers around the world
• Total operating revenue in 2018: SEK 347 million
• Listed on Nasdaq Stockholm (small cap)
THIRD QUARTER2019
OPERATIONAL HIGHLIGHTS
• Operating result improvement driven by own online retail
• Tough market, weak in wholesale
• Own web is growing with a more efficient operational set-up
• Comprehensive action program aimed to reduce complexity, capital tied up and operating costs – is showing results
• License agreement was signed with the well-known brand Hunkydory
• To be re-launched in 2020
• 2 own stores were closed
RETAIL SALES
Q3 2019
WHOLESALE SALES
MSEK
45.3
MSEK
30.9
NUMBERS IN BRIEF
• Total operating revenue SEK 76.6 million (99.5)
• Gross profit margin 47.6 percent (51.0), impacted by higher share of discounted sales
• Operating cost reduction of SEK 16.1 million, excluding impact of SEK 5.8 million restructuring charge last year
• Operating loss SEK -9.3 million (-19.3)
• Operating margin -12.1 percent (-19.4)
• Net loss SEK -9.0 million (-15.7)
• EPS SEK -0.61 (-1.87)
SALES DEVELOPMENT
-23%
47.6%
Q3 2019
GROSS MARGIN
NUMBERS IN BRIEF
• Total operating revenue SEK 225.5 million (281.2)
• Gross profit margin 49.1 percent (54.0), impacted by discounted sales
• Operating cost reduction of SEK 28.4 million, excluding effect from restructuring charges in both periods
• Operating loss SEK -44.7 million (-38.0), negatively impacted by lower sales and weaker gross margin
• Operating margin -19.8 percent (-13.5)
• Net loss SEK -47.4 million (-32.8)
• EPS SEK -4.39 (-4.91)
SALES DEVELOPMENT
-20%
49.1%
Jan to Sep 2019
GROSS MARGIN
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-80
-60
-40
-20
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60
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2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 LTM
Sales and profit
Sales Profit
YEARLY DEVELOPMENT
Q3 2019
0
20
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Q1 Q2 Q3 Q4
QUARTERLY DEVELOPMENT
Q3 2019
2016 2017 2018 2019
Sales per quarter
-25-20-15-10-505
10152025
Q1 Q2 Q3 Q4
2016 2017 2018 2019
EBIT per quarter
200
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Q3-14 Q3-15 Q3-16 Q3-17 Q3-18 Q3-19
Sales, LTM
-90
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-50
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-10
10
30
Q3-14 Q3-15 Q3-16 Q3-17 Q3-18 Q3-19
CASH FLOW
Jan to Sep 2019
MSEK
-50,0
-40,0
-30,0
-20,0
-10,0
0,0
10,0
20,0
30,0
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Cash Flow Components Jan-Sep 2019MSEK
GOING FORWARD
STRATEGY GOING FORWARD
1 2
3 4
STRENGTHEN THE BRAND POSITION WITH A MORE STREAMLINED
PRODUCT RANGE
ADDITION OF HUNKYDORY
FOCUS ON INTERNATIONAL GROWTH THROUGH A CAPITAL EFFICIENT
MODEL OUTSIDE MAIN STRATEGIC MARKETS
INCREASED FOCUS ON OWN E-COMMERCE AND REDUCING THE
NUMBER OF STORES
STRENGTHEN THE STRATEGY WITHIN SUSTAINABILITY
THANK YOU!